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Real Estate License Questions

Agents or brokers who represent a seller or buyer in real estate transactions across the United States need legal authorization from a state administration in the form of real estate licenses.

Listed below are a few questions answered on real estate license related issues.

To negotiate a short sale with a bank, does one require a real estate license?

You do not require a real estate license for this purpose. A foreclosure/real estate attorney could help you do this if you don’t feel comfortable negotiating on your own.

In Illinois, does one require a real estate license to act as a manager of a single home dwelling?

In Illinois, unless you own the property or are a full-time employee of the property owner, you will not be allowed to conduct real estate business without being licensed as a real estate broker, leasing agent or salesperson. This would include negotiating a real estate rental lease, getting a commission for renting, or collecting rent on behalf of the owner of the property, irrespective of the property size or character. 225 ILCS Chapter 454 will offer you more information on this.

I hold a restricted salesperson real estate license and am planning to leave my current office. Even though I won’t be undertaking any real estate related work, would I have to put my license under a broker?

According to the Expert on JustAnswer, “Bus. & Prof. Code 10161.8 requires that ‘(a) Whenever a real estate salesman enters the employ of a real estate broker, the broker shall immediately notify the commissioner thereof in writing.’” Here, the term “employ” means that irrespective of what work the salesperson does for the broker, the license should be held by the employing broker.

Your other options would be to resign the license or seek an exception from the Department of Real Estate (DRE).

In California, if an individual’s real estate license has expired over a year ago and the status of the license is deemed revoked, can he still get his license renewed or reissued?

If the license was revoked because the individual did not keep up with the continuing education requirements or failed to renew the license, and was not revoked because of misbehavior, then it is possible to apply to the board for reinstatement. The individual will then have to go for the continuing education classes and also pay the fees required to get it reinstated.

To undertake a cash flow business, do I need a real estate license?

You do not need a license if all you are doing is putting a buyer and seller of “notes” and “loans” together and receiving a commission once the transaction is completed. The “cash flow business” is about buying and selling loans and not selling real estate.

I help people in California sell their real estate notes and present the information to buyers. Do I need a real estate license to do this?

You would require a real estate license in this case since you are acting as a broker/agent. You would not be allowed to participate in a sale/transfer of real property or even arrange for the same without a valid license.

Conducting a real estate transaction within the United States without a proper real estate license can land you in a lot of trouble. That is why it is important to understand all the rules and regulations that govern real estate practices in the United States before entering the business.

Ask a Real Estate Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 5323
Experience:  16 years of legal experience including real estate law.
4460311
Type Your Real Estate Law Question Here...
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4 Real Estate Lawyers are Online Now

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Recent Real Estate License Questions

  • Hi, I have a complicated situation. I rent a room in my house

    Hi, I have a complicated situation. I rent a room in my house and - until now - it has gone well. Three weeks ago I rented to a man who has since become my worse nightmare. He will not listen to me about anything, has locked me out several times (I don't have a key to top lock - I only lock it at night, and I have asked him to let me lock that lock) and he lets my dogs run loose (I kennel them in an enormous kennel during the day) - he lets them out. But the worst part is that he yells and curses at me - he called me a psycho in front of a contractor Saturday afternoon. I told him before he moved in that the house is for sale and he would have to keep his room reasonably clean which he doesn't, and he moved absolute junk into a furnished bedroom. And, he is running an office out of my townhome - against the rules and regulations I am quite certain.
    My question is - would I be within my rights to give him a three day notice to vacate? Or, is that just for non-payment of rent. He paid through the first. Also, can I refuse his rent on the first if he tries to push me to stay. I already told him I want him to leave, I put it in writing last week giving him 30 days, but I really want to accelerate this now. I am afraid of him, and he is keeping me from selling my home. Thanks. Patti
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    If my realtor brings qualified buyers to buy my home and I decide not to sll do I have to ay realtors commission or what will happen in the long run. The house was listed to low to start with what recourse do I have I have not signed the final contract
  • Hello, we recently had a small set of complaints about "bird"

    Hello, we recently had a small set of complaints about "bird" noise.
    We have lived in the same house with the birds for 10 years without incident. We have what we believe have good relations with our immediate neighbors. We want to understand who is complaining now to understand the concern and possible options. We know one neighbor has a history of reporting minor offenses without any direct discussion.
    We asked if we can get the names and locations to start a conversation and take reasonable next steps. We were told that complaint details to the HOA are considered private.
    Don't we have a right to face our accuser? We live in California. Do we have a path to obtaining details of these complaints?
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